OREANDA-NEWS. November 17, 2011. For Jan-Oct 2011 the Ministry of Taxes of Azerbaijan transferred AZN 4.79 bn to the State Budget.

The Ministry reports that for this period income from the oil sector of the economy amounted to AZN 2.4 bn that exceeds the 2010 same term index by 23%. Profit tax transfers made up 44.8% of overall revenues, VAT 22.8%, income tax 11.8%, excise taxes 7.5%, and other taxes 13.1%.

During this period the country registered 58,952 taxpayers. From 1 July to 31 October the number of individual entrepreneurs registered in the online system reached 6,622 persons. As of 1 November 2011 the country registered 413,513 taxpayers. For 10 months the share of electronic declaration in tax authorities amounted to 88.4%.